Highlights
• Operating profit before exceptional items of
• Better than expected1 due to strong yield performance across the Group and the benefit of a lower fuel price
• We continue to focus our capacity deployment on our core
• Encouraging outlook for the summer with around 80% of expected quarter 2 revenue now booked
• We currently expect our full year 2023 operating profit before exceptional items to be higher than the top end of our previous guidance of
Luis Gallego, IAG Chief Executive Officer, said:
"IAG has delivered a strong first quarter financial performance, as Group airlines recovered capacity to close to pre-pandemic levels. Iberia contributed a record first quarter profit and all our airlines performed above expectations, benefiting from robust demand and a lower fuel price in the quarter. We are seeing healthy forward bookings with leisure demand particularly strong while business travel continues to recover more slowly.
"As we return to more normal operations, we continue to invest in sustainability, including more fuel-efficient aircraft, and in customer experience, updating the business cabins for British Airways and Iberia. Over the past year we have recruited thousands of new employees across the Group and strengthened our operations so that we are ready to deliver for our customers during the summer peak.
"We have the right model to succeed with synergies and efficiencies across the Group and I want to thank all our employees for the role they have played in our continued recovery."
Tags: Luis Gallego, IAG
